KKR sells stake worth Rs 405 cr in Coffee Day Enterprises

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PTI

February 26, 2018

UPDATED: February 26, 2018 20:40 IST

New Delhi, Feb 26 (PTI) Private equity major KKR today sold nearly 6 per cent stake in Coffee Day Enterprises, which runs the popular Cafe Coffee Day chain, for Rs 405 crore through open market transactions.

Coffee Day Enterprisess promoter Malavika Hegde was among the buyers of the shares.

According to the bulk deal data available with NSE, KKR Mauritius Pe Investments Ii Ltd disposed of 1.25 crore shares amounting to 5.92 per cent stake in Coffee Day Enterprises.

Of the 1.25 crore shares, 35 lakh were offloaded at an average price of Rs 324.64, valuing the transaction at Rs 113.62 crore.

The remaining 90 lakh were sold at a price of Rs 324.25 apiece, culminating into a transaction of Rs 291.83 crore.

Hegde bought 55 lakh shares at Rs 324 per scrip for a total of Rs 178.20 crore.